Super ads leaving fund members in the dark: HLB Mann Judd
Michael Hutton
The super funds sector needs to do more to ensure working Australians understand the impact of investment style on their long-term savings, according to Michael Hutton, financial planning partner at HLB Mann Judd.
Hatton said he is “concerned about the impact on fund members of a continuing flood of very confusing advertising and propaganda promoting the merits of different types of super funds”.
“It seems to me this could be turning off members from thinking whether the investment style of the particular fund option they are in is appropriate.
“After all, most Australians still appear to be in the default option — which is usually conservative — of whatever superannuation fund they have chosen.
He said that while some individual super funds may be communicating to their members “the importance of considering their options, much more needs to be done in broader programs”.
“It is particularly important for young Australians, who often have no idea of whether their superannuation is in an ultra conservative or very aggressive option within their super fund.
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